Leaders at a major climate change conference in Paris released what they called the “final draft” of an agreement to address global warming Saturday after an all-night negotiating session.
French Foreign Minister Laurent Fabius, who is heading the United Nations conference, said the agreement resolved points of contention that had taken negotiations into overtime and called the agreement “the best possible text.” Negotiators will meet later Saturday afternoon to respond to the text and potentially consider its adoption.
“In this room you are going to be deciding on an historic agreement,” Fabius told delegates from the nearly 200 nations gather in Paris. “The world is holding its breath. It counts on all of us.”
The deal, which would be known as the Paris Agreement if passed, would represent remarkable compromise after years of negotiations in which developing countries wrangled with their developed counterparts and failed to come to agreement on several key occasions. Supporters say the agreement would help define the energy landscape for the remainder of the century and signal to markets the beginning of the end of more than one hundred years of dependence on fossil fuels for economic growth
Observers had feared that a negotiated text could result in a lowest common denominator to meet the differing needs of all the parties present in Paris. But climate policy experts appeared largely satisfied with the draft presented Saturday afternoon.
A strong long-term goal to reduce carbon emissions, provisions explaining how developed countries would receive financing for their efforts to adapt to climate change, and a transparency system to ensure that countries meet their promises to reduce greenhouse gas emissions were among those key goals. The draft text released Saturday included provisions addressing all those key points.
“It has all the core elements that the environmental community wanted,” said John Coequyt, the Sierra Club’s director of federal and international climate campaigns.
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